HC Wainwright Downgrades Argo Blockchain (NASDAQ:ARBK) to Neutral

Argo Blockchain (NASDAQ:ARBK) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $1.45 target price on shares of Argo Blockchain in a research report on Thursday, March 28th.

Argo Blockchain Price Performance

ARBK opened at $1.52 on Friday. The business’s 50-day moving average price is $1.80 and its two-hundred day moving average price is $1.86. Argo Blockchain has a 1 year low of $0.92 and a 1 year high of $4.45.

Institutional Trading of Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Chesapeake Capital Corp IL purchased a new position in shares of Argo Blockchain plc (NASDAQ:ARBK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,253 shares of the company’s stock, valued at approximately $132,000. Chesapeake Capital Corp IL owned about 0.06% of Argo Blockchain as of its most recent SEC filing. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Argo Blockchain Company Profile

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for complex cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.